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    Learn Why The Bull Case For Western Midstream Partners Stock Could Change Following Record Gas Throughput

    Simply Wall St·11/09/2026 23:41:25
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    • Western Midstream Partners reported third quarter 2026 revenue of US$1,194.22 million, net income of US$324.78 million, and adjusted EBITDA of US$708 million, alongside record natural gas throughput of 5.9 billion cubic feet per day.
    • The partnership paired higher revenue and record volumes with guidance that 2026 adjusted EBITDA is expected to exceed the midpoint of its range, while also advancing growth projects such as the Pathfinder produced water pipeline and the North Loving II processing train.
    • We will now look at how Western Midstream Partners’ investment narrative could be reshaped by record throughput and management’s higher EBITDA outlook.
    Seize this moment around Western Midstream Partners’ record throughput to review a curated list of infrastructure focused income ideas, starting with 6 dividend fortresses.

    Western Midstream Partners Investment Narrative Recap

    To own Western Midstream Partners, you need to believe its fee based model can keep turning record throughput into steady cash flow, while major Delaware Basin projects such as Pathfinder and North Loving II come online on time and on budget. The latest quarter supports that operating story, with higher revenue, record gas volumes and a 12% rise in adjusted EBITDA.

    The near term swing factor is still producer activity in key basins. Management’s expectation that 2026 adjusted EBITDA will land above the midpoint of guidance relies on that remaining supportive. The biggest risk remains heavy capital commitments and high debt if drilling or completions slow and those new assets end up under utilized.

    The analyst consensus narrative on Simply Wall St ties a lot of the long term potential to Pathfinder, North Loving II and integration of Brazos Delaware II. Third quarter results matter for that storyline because they show Western Midstream Partners handling 5.9 billion cubic feet per day of gas, with adjusted EBITDA of US$708 million, while still spending into growth.

    For you, the key question is whether today’s record throughput and guidance upgrade increase confidence that future fee based projects will be well filled, or simply raise the stakes on execution risk and balance sheet pressure. If producer activity or basin mix shifts away from expectations, the same capital program that supports earnings potential could weigh on returns.

    Western Midstream Partners’ current analyst story implies revenues of US$5.2b and earnings of US$1.7b by 2029, built on forecast revenue growth of 6.2% a year and an earnings increase of about 31% from roughly US$1.3b today to that US$1.7b level.

    Uncover why Western Midstream Partners' fair value indicates a 21% potential upside to its current price, which could narrow quickly.

    NYSE:WES 1-Year Stock Price Chart
    NYSE:WES 1-Year Stock Price Chart

    Exploring Other Perspectives

    Two fair value marks from the Simply Wall St Community span roughly US$49.69 to US$128.91, so you are seeing very different takes on Western Midstream Partners. Set that spread against record throughput, higher 2026 EBITDA guidance and rising capital commitments, and you get sharply contrasting views on future resilience. Explore them.

    Explore another Western Midstream Partners fair value estimate, including one that suggests it could be worth just $49.69!

    Reach Your Own Conclusion

    Don't just follow the ticker; dig into the data and build a conviction that's truly your own.

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